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18 Sep 2013
EUR/USD rebounds from ST dip but remains below 1.3432 ceiling ahead of US data / news
FXstreet.com (Barcelona) - EUR/USD now flat on the session after a short-term drop. All eyes now focused on US - where very key data will drive the global risk trade later today.
EUR/USD traders remain focused on FOMC follies
Without data from the EU Wednesday, EUR/USD traders get to focus on US data – including building permits and housing starts at 12:30 GMT and the FOMC rate decision and tapering-related announcement at 18:00 GMT.
Technical outlook for EUR/USD
The EUR/USD has been drifting higher for the last two weeks leading up today’s announcements. Technicians say the drift has failed to produce any clear breakout, though. They note that only a close above 1.3432 will change the chart from macro-bearish to macro-bullish. Support for EUR/USD comes in at 1.3253 – the 9/13 low.
EUR/USD traders remain focused on FOMC follies
Without data from the EU Wednesday, EUR/USD traders get to focus on US data – including building permits and housing starts at 12:30 GMT and the FOMC rate decision and tapering-related announcement at 18:00 GMT.
Technical outlook for EUR/USD
The EUR/USD has been drifting higher for the last two weeks leading up today’s announcements. Technicians say the drift has failed to produce any clear breakout, though. They note that only a close above 1.3432 will change the chart from macro-bearish to macro-bullish. Support for EUR/USD comes in at 1.3253 – the 9/13 low.